Could i get a HELOC with a 640 fico?

Yes, a HELOC is available with a 640 score, however, there are many more factors involved in the approval process. Although the HELOC is not as involved as a first mortgage you will still need to provide verification info. Typically you will need to complete a financial statement, provide income verification and bank info. The value of the home and the balance of the mortgage on your home will be verified in order to determine how much you will be allowed to access on a line of credit. I personally think it would be better to do a refinance and get what cash you need or consolidate debt. Today's rates are so good a HELOC does not make sense to do because the HELOC is typically just like a credit card. You have an adjustable payment with a rate that is normally higher than the first mortgage fixed rate would be. If you would like a review of your personal financial situation contact me any time. Here at Fidelity Funding Mortgage Corp., we specialize in Florida mortgages only and offer a wide variety of programs. Including my 25 years in the industry and the professional staff that is available for me together we can select the best program that fits your specific needs. I am available Monday through Saturday to assist you in your mortgage needs. Thank you!

Yes, call Carole.

Yes, but it depends on the loan to value and the usual items needed to qualify. If you would like to know more give me a call Ralph Guertin 954-274-7725 or email at ralph@absolutelowrates.com

The only way to know for sure would be to apply.. a credit score is only one of about 100 different things an underwriter looks at when determining one's eligibility.. property value, loan to value, amount on 1st, past credit history, income, job, etc, etc, etc.. although most lenders allow for 640 credit scores, there's just so much more they look at, so it's hard to say for sure if you would qualify.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com